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Binance intends to rule the DeFi world as it does in the crypto industry. The company is clearly committed to becoming the front runner for cryptocurrency. They releasing new products and incentives on a regular basis. Recently, they launched the Binance Smart Chain platform.
DeFi’s newest popular product, Binance Smart Chain, has caught attention in all-new DeFi clone waves attracting liquidity providers. Last week, the new DeFi doppelgangers Cream Finance, BurgerSwap, and BakerySwap opened stores on the new Binance blockchain.
Noting the importance of DeFi, Binance CEO, Zhangpeng Zhao bragged shortly thereafter. He identified that the native mark of the new network and exchange is catching up to Ethereum.
These numbers are very accurate. Binance Smart Chain transactions hit nearly 140,000 transactions on Sunday, while Ethereum only exceeded a million transactions per day. However, most of the activity is controlled by a DeFi farming clone called BurgerSwap.
DeFi replication is getting faster and faster. Another replication called BakerySwap will launch at 3:59 PM GMT on September 14th.
Binance CEO, Zhangpeng Zhao maintained its own behavior while its company’s behavior was benevolent, pointing out in a previous tweet.
After the company launched an Ethereum-compatible Smart Chain on September 1, at the World DeFi Summit last week, Zhao announced the launch of a $100 million mutual fund dedicated to winning projects to build on the new blockchain platform.
Of course, as food farmers started using the Binance exchange’s local tokens to deposit into the new liquidity pool, the insanity in planting food greatly boosted the development of the BNB.
BNB hit a record high of $32 on Sunday, September 14. The token is up nearly 30% since the same period last week. This increases the market value to over $4 billion, which is roughly 10% of Ethereum’s market capitalization.